India: Sponge iron prices fall on limited buying interest - 13 Dec
Sponge iron prices fell by INR 100-500/tonne (t) in key locations across India on 13 December, 2023. Prices fell on lack of buying enquiries in the spot market today. As ...
Sponge iron prices fell by INR 100-500/tonne (t) in key locations across India on 13 December, 2023.
Prices fell on lack of buying enquiries in the spot market today. As a result, suppliers in various regions of the country reduced their offers.
PDRI market prices closed at a range of INR 26,500-29,400/t and CDRI prices, at INR 28,300-32,600/t.
About 10,610 tonnes (t) of sponge iron transactions were recorded in the country on Wednesday compared to 14,150 on 12 December.
Rationale -
Prices have been derived based on transactions, offers, bids and indicative price data sets. Transactions are considered as T1 and given a weightage of 50% whereas other data sets are considered as T2 and given a weightage of the balance 50%.
Click for detailed methodology
T1 - Trade, T2 - Offer/Bid/Indicative
